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Neil Birrell, chief investment officer at Premier Miton Investors , says the rise in retail sales is a good sign for the economy:

“The wet weather didn’t deter the British public spending their money in September, as shown by stronger than expected retail sales.

This runs contrary to what consumer confidence data is telling us and indicates that wage growth is an important factor. The consumer sector is very important within the economy and even though this is just one month’s data, it suggests the economy is more robust than was thought.”